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AIG's New Ammunition Against Bank of America

By Jessica Alling - Apr 3, 2013 at 9:56AM

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NYSE: BAC

Bank of America Corporation

Market Cap

$281B

Today's Change

(-1.23%) -$0.43

Current Price

$34.45

Price as of May 19, 2022, 8:00 p.m. ET

In a lawsuit that could turn the tides for AIG, new testimony gives the insurer new hope.

The lawsuit filed by AIG (AIG -0.69%) against Bank of America (BAC -1.23%) has been off-course for some time while the parties fight over whether the insurer retained the rights to sue B of A. On the line is a $10 billion suit in which AIG could recover some of the losses it incurred from bad mortgage bonds issued by Countrywide and Merrill Lynch. In this video, Motley Fool contributor Jessica Alling discusses the new development and what investors should look for going forward.

Stocks Mentioned

Bank of America Corporation

BAC

$34.45 (-1.23%) $0.43

American International Group, Inc.

AIG

$57.90 (-0.69%) $0.40

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